Roth sees Sable rallying on Trump support for offshore drilling

Roth Capital analyst Leo Mariani expects shares of Sable Offshore (SOC) to react positively to the Washington Post’s report that the Trump administration is preparing a proposal to open up offshore oil drilling along California’s coast for the first time in decades. The Trump administration’s support of oil drilling off the coast of California “shows clear support” for Sable’s Santa Ynez project off the coast of California in federal waters and indicates that federal funding for the project is “still clearly an option,” the analyst tells investors in a research note. Roth has a Buy rating on the shares with a $22 price target The stock in early trading is up 4% to $6.24.